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For updates to the fema flood insurance maps and how the effects flood insurance costs, who would you call? I can't really figure out wtf the maps mean or a good answer. I think the rates are suppose to be updated in October for the area I'm looking so I guess if everything gets foreclosed on in the area I'll know...
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Sep 19, 2013 02:20
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After 6 long months our home is done being built and we closed today. So happy to be done, though I have so many projects over the next few weeks that I'm going to be drained. First up was the garage door opener, I went and installed that this afternoon. It wasn't all that hard, but doing it by myself was a little draining with moving ladders all over the place. Tomorrow I'm etching the garage floor in prep for epoxy this weekend.
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Sep 19, 2013 03:44
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rockcity posted:After 6 long months our home is done being built and we closed today. So happy to be done, though I have so many projects over the next few weeks that I'm going to be drained. First up was the garage door opener, I went and installed that this afternoon. It wasn't all that hard, but doing it by myself was a little draining with moving ladders all over the place. Tomorrow I'm etching the garage floor in prep for epoxy this weekend. How are you doing the epoxy if you don't mind my asking? I'm curious as to how involved it is to do myself when we close on our new-build in a couple months. Where did you get the materials? LOVE that driveway, by the way. 
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Sep 19, 2013 04:39
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Leperflesh posted:Now, whether it takes a cylinder you can just buy at Home Depot, or whether you have to special-order something online, I dunno. But I bet a call to a locksmith will answer the question for you. Ahh good point. I can always have a locksmith order the cylinder for me, and then install it myself. Watch the special order parts price be ~$25 less than the fully installed price. 
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Sep 19, 2013 05:16
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JPrime posted:How are you doing the epoxy if you don't mind my asking? I'm curious as to how involved it is to do myself when we close on our new-build in a couple months. Where did you get the materials?
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Sep 19, 2013 10:55
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SiGmA_X posted:Check out garage journal's flooring subforum. So much info! This. 1000x this. I got all of my info from there basically. It's definitely doable, but it's a lot of work. Several days worth. I'll be etching the floor with muraiatic acid today and then washing it down and letting it dry for 48 hours. Then I'll be doing a primer base coat Saturday morning, first coat of epoxy that night, second coat Sunday morning (followed by the flakes), then a final urethane clear coat with an anti-skid abrasive mixed in that night. I ordered all of my materials from Legacy Industrial. They have a really good reputation and they're used by a ton of professional installers. Materials cost me about $600 or so for a two car garage. It would have been at least $2500 for me to have it done for me. I'll post pics when I'm done with it. Oh and thanks, we love the paver driveway too, it was well worth the money curb appeal-wise.
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Sep 19, 2013 13:38
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Since the Fed is going to continue QE at the same rate as before what's change we'll see sub-4% rates again?
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Sep 19, 2013 17:11
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Jealous Cow posted:Since the Fed is going to continue QE at the same rate as before what's change we'll see sub-4% rates again? The standard answer is if we knew for sure what rates would be tomorrow, an efficient market would match today's rate to it. I really don't think we'll see rates like that again.  http://mortgage-x.com/trends.htm
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Sep 19, 2013 17:25
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canyoneer posted:The standard answer is if we knew for sure what rates would be tomorrow, an efficient market would match today's rate to it. Well if you can get enough tea partys elected you might be able to achieve some massive deflation. There is always hope. Is it possible to have negative interest rates?
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Sep 19, 2013 19:22
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*looks at the pre-approval letter from May at 3.25%* *sigh*
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Sep 19, 2013 19:35
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Elephanthead posted:Well if you can get enough tea partys elected you might be able to achieve some massive deflation. There is always hope. Is it possible to have negative interest rates? I would have said no 5 years ago, but people actually bought treasuries and german bonds with negative yields.
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Sep 20, 2013 04:30
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There is a house with three travel trailer hookups renting at $300 a spot listed for $120k. I'm guessing land and house appraise for $80-90k with room for three more hookups with electricity and water ran. I'm guessing this wouldn't qualify for a conventional loan. What would I be looking into? I have $40k cash and first time buyer
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Sep 20, 2013 14:48
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Stuff you want to hear: If you can prove reliable rental income on a property, you can include that in your income, so that should help with DTI. The fact that there are potential trailer hookup options means nothing in terms of getting a loan other than the potential boost to your factored income. With 40k down, the higher appraisal amount would let you still go conventional, but with PMI. Stuff you don't want to hear: Do you really want to have three people living right outside your house? You can't just tell them to leave if they're awful people. Can you still afford PITI if all three leave in the middle of the night? Have you considered the costs of insurance as a renter, plus the taxes you'll need to pay on that income? With that high of an appraisal you will likely need to put almost the entire 40k down to get a loan; do you have other savings? If you make 40k+, have 50k+ in savings, and can live with what you're getting yourself into, then it's an option.
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Sep 20, 2013 22:34
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Endestroy posted:Stuff you want to hear: Rental income cannot be used to qualify on a 1 unit primary residence for conventional*. Given the short term rentals you would have trouble proving stability of earnings without 1-2 years history on tax returns anyway even if it was allowed. Outside of the income issue, there are a bunch of requirements related to mixed use properties that could make it difficult/impossible to get a conventional loan for this property. I've copied some of the relevant guidelines below, another thing to keep in mind is that Fannie/Freddie require that the comps in the appraisal have a similar mixed use feature so getting like comps may not be possible if this isn't common for the area. Fannie Mae Acceptance of Mixed-Use Properties Fannie Mae purchases or securitizes mortgage loans secured by properties that have a business use in addition to their residential use provided special eligibility criteria are met. Examples include, but are not limited to, properties with space set aside for day care facilities, beauty or barber shops, doctor’s offices, and small neighborhood groceries or specialty stores. Lenders must make sure that the mixed-use criteria are considered and adequately addressed in the assessment of the property. Appraisal Requirements for Mixed-Use Properties The table below describes lender requirements pertaining to appraisals for mixed-use properties. Lenders must ensure that … - Appraisers provide an adequate description of the mixed-use characteristics of the subject property. - The mixed use of the property represents a legal, permissible use of the property under the local zoning requirements. - The market value of the property is primarily a function of its residential characteristics, rather than of the business use or any special business-use modifications that were made. * With one exception that does not apply here.
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Sep 21, 2013 03:56
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So I'm trying to buy a house in a hot market (places selling in 10 days or less usually). I asked my agent to look at a place on Thursday, and said I wanted to look at it by Monday. He said he was really busy but would try to get in next week. Is it time to start looking for a new agent? I like him a lot but if he's too busy to get me into places within a day or two of me requesting it... Am I being unreasonable?
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Sep 21, 2013 14:14
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Ranma posted:So I'm trying to buy a house in a hot market (places selling in 10 days or less usually). I asked my agent to look at a place on Thursday, and said I wanted to look at it by Monday. He said he was really busy but would try to get in next week. Is it time to start looking for a new agent? I like him a lot but if he's too busy to get me into places within a day or two of me requesting it... Am I being unreasonable?
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Sep 21, 2013 14:56
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Ranma posted:I like him a lot but if he's too busy to get me into places within a day or two of me requesting it... Am I being unreasonable? Not at all. He should be aware that seeing a house asap is a necessity in that type of environment. It took a while for me to feel comfortable making that type of last minute request of my realtor. He assured me that it was ok since that is what it takes to get a house under contract and that it's his job to be available for me.
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Sep 21, 2013 18:03
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CrazyLittle posted:Ahh good point. I can always have a locksmith order the cylinder for me, and then install it myself. Watch the special order parts price be ~$25 less than the fully installed price. Locks changed, and I didn't even have to swap hardware. A few lessons I learned today: 1) Emtek locks use the same cylinders as Schlage 5-pin locks. 2) Change-A-Lock kits are $10 to swap the pins in up to six locks, and it's pretty easy to do it yourself if you're even remotely handy. 3) My local hardware store can cut keys by-number, and has this punching machine that does it faster than key grinders do. 4) If you ask nicely, they can re-key multiple locks for you so they all share the same key, provided they use the same key system (Kwikset/Schlage/etc)
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Sep 22, 2013 00:36
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Speaking of keys, I should probably change my locks. But I haven't so this question is still a little relevant: I bought my house a month ago and it has 2 different door locks. One key unlocks the locks on both exterior entrances to the house, and the other key unlocks an outdoor storage closet where my breaker panel is. What's weird is the key that unlocks the exterior closet can open the doors to the house if I don't deadbolt them. They can't lock or unlock the house doors from the outside, but they can turn the handle and open the door regardless of whether the handle is locked. They don't work at all in the deadbolt. It doesn't work the other way at all, the house keys cannot open the closet at all. Is that something someone would even be able to do on purpose or is that something random that happens sometimes when you change your locks with mass-market stuff?
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Sep 22, 2013 03:30
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wixard posted:Speaking of keys, I should probably change my locks. But I haven't so this question is still a little relevant: Does your door have a completely separate deadbolt? Mortise locks commonly do that behavior you're describing, where the key can open the door handle even if the the handle is locked. My parent's house has a mortise lock which operates the handle's "dummy-lock" as well as its integrated deadbolt. However, if your other key opens both the deadbolt AND the handle, then you should compare the ridge heights for both keys. There's a chance that your locks are keys for an alternate (or master) key. Of course you could fix all of these problems by having all the cylinders re-keyed to one one unique key... CrazyLittle fucked around with this message at 05:04 on Sep 22, 2013 |
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Sep 22, 2013 04:39
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CrazyLittle posted:Does your door have a completely separate deadbolt? Mortise locks commonly do that behavior you're describing, where the key can open the door handle even if the the handle is locked. My parent's house has a mortise lock which operates the handle's "dummy-lock" as well as its integrated deadbolt. However, if your other key opens both the deadbolt AND the handle, then you should compare the ridge heights for both keys. There's a chance that your locks are keys for an alternate (or master) key. I do plan to rekey the place, I probably should have already. Since I live by myself it seems like it could be convenient to have a setup where my house key opens everything but I can give service people a key to get to something in the outside closet, I just can't figure out why you would make that "service key" open the house door but not vice versa (I have to carry 2 keys to open the outside closet and my front door deadbolt). I can't decide if it's more likely on purpose or by accident.
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Sep 22, 2013 05:47
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Oh god I put a bid on a trailer with a 50x150 lot, septic system, on unrestricted land. Dale Earnheart mailbox???
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Sep 23, 2013 02:54
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The best shot at getting a house my wife and I liked fell apart today, as the seller refuses to address any of the issues that came up in the inspection. (radon mitigation system needed, roof at the end of its life despite seller claiming it is four years old, basement wall showing signs of bulging and refuses to let a structural engineer look at it) Now we are looking at apartments. Houses suck. 
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Sep 24, 2013 01:49
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Seller took the bid! $20k for a trailer with unrestricted land on a street with homes at $100k and older people. Also, 0 taxes since under $75k and rent for this place in current condition with minor repairs is $700 a month. This could get hilarious fast.
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Sep 24, 2013 02:20
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Lt. Chips posted:The best shot at getting a house my wife and I liked fell apart today, as the seller refuses to address any of the issues that came up in the inspection. (radon mitigation system needed, roof at the end of its life despite seller claiming it is four years old, basement wall showing signs of bulging and refuses to let a structural engineer look at it) It's no small consolation but the sellers are going to have a hell of a time selling the house if this is their attitude. The radon system is a  item. We tested for radon and found elevated levels. The seller immediately agreed to have a system installed at their cost. Depending on your local laws, once a buyer discovers a problem like that it has to be put on the seller's declaration for all future potential buyers to see. Not so for roof or basement wall, unfortunately. Look on the bright side, you didn't hire a structural engineer at your cost only to find out the sellers won't pay for any repairs.It sounds kind of like the sellers are unrealistic about getting the most dollars out of selling the house or may not have money for repairs. I mean they probably shouldn't have put the house up for sale if that's the case but with most of the seller costs not realized until you sell, I guess people can just hope for a unicorn buyer that just wanders in and buys for above market as-is. Keep at it, it took us around 3 years to find the perfect house.
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Sep 24, 2013 15:12
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Christobevii3 posted:Seller took the bid! $20k for a trailer with unrestricted land on a street with homes at $100k and older people. Also, 0 taxes since under $75k and rent for this place in current condition with minor repairs is $700 a month. This could get hilarious fast. You are doing it right. Do always buy the worst place on the block, err in this case county!
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Sep 24, 2013 15:18
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Hey it beats this place for $28500 http://houma.craigslist.org/reo/4004809757.html What I got. Includes appliances. Saves my 2 hours of driving and me 1 to work. Also $950 plus $250 rent. Ill paint and redo flooring. http://www.century21.com/property/161-west-201st-street-galliano-la-70354-C2120813710-A10948826
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Sep 24, 2013 16:12
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Does anyone have experience with refinancing, specifically with Quicken? The property was bought just before the California housing bubble burst and we're deeply underwater, but we'd rather hold onto it than try to short sell. I have no experience with this process, so I guess I'm looking for advice from people who've been through it themselves. Anything you wish you would've known going into it? Was there unexpected surprises during/after? e: We were approved for a loan through Quicken, but it wouldn't be saving us much. Going to keep calling around to see if we can get a better offer. fork bomb fucked around with this message at 22:51 on Sep 24, 2013 |
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Sep 24, 2013 22:01
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fork bomb posted:e: We were approved for a loan through Quicken, but it wouldn't be saving us much. Going to keep calling around to see if we can get a better offer.
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Sep 24, 2013 23:22
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We moved recently. We're trying to refi before we get renters, but both need to happen yesterday because we're bleeding money on this empty place. Ran out of time to make calls today. Touched base with a dude from the company that holds our primary mortgage that I'll follow up with tomorrow. Didn't get much info from him but he did say that we qualify for HARP. I don't know much, but I believe that's a good thing. I couldn't find a refi thread so I hope this is the best place to be asking these questions. If there's a better thread, please let me know.
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Sep 24, 2013 23:46
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adorai posted:If history repeats itself, when the fed slows or stops the printing presses, there will be a dip in rates. Are you referring to the end of QE3? Because it's far more likely the exact opposite will happen once the fed stops propping up the bond market. Just the suggestion that the fed might end its bond buying program was enough to cause mortgage interest rates to jump by about a percentage point over May/June. Things have eased up a little bit since then with the reassurances that QE3 won't be tapering off in the immediate future, but holding out on refinancing or locking your mortgage rate on the off chance we return to the rates we were seeing last winter is a taking a pretty huge risk - sure, there's an outside chance we could see rates in the low 3%s again, but it's far more likely they'll hold at this level or rise - definitely not worth the gamble. NJ Deac fucked around with this message at 15:36 on Sep 25, 2013 |
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Sep 25, 2013 15:33
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NJ Deac posted:Are you referring to the end of QE3? Because it's far more likely the exact opposite will happen once the fed stops propping up the bond market. It's not logical that rates would temporarily dip, but they did, and they might again.
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Sep 26, 2013 01:03
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The seller of the house we are strongly considering is refusing to install radon mitigation. The test came back with an average of 4.1 so I kind of felt like a dick asking for it in the first place. a) Insist it be installed b) Offer to pay half c) Ignore it for now and test in the winter/handle it later
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Sep 26, 2013 13:03
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Bruce Hussein Daddy posted:The seller of the house we are strongly considering is refusing to install radon mitigation. The test came back with an average of 4.1 so I kind of felt like a dick asking for it in the first place. This is largely a matter of how much money you have, what your market looks like, and how much you want that particular house. Get a quote for radon mitigation. Is the house worth $X more to you than your offer price? At the very least throw an addendum at the seller for an extended contingency to get additional quotes on remediation so you're not pressed to make a sudden decision. (I assume you're in a contract? "strongly considering" makes it unclear though)
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Sep 26, 2013 13:27
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Walked posted:This is largely a matter of how much money you have, what your market looks like, and how much you want that particular house. We have the money to do it ourselves. It's a finished basement house, so the mitigation would be in the $1500-2000 range. Yes we are in a contract, closing on the current house tomorrow, we like this house. e: It's really not the money, it's the whole RADON CANCER GAS. I mean, if it had come in at 3.5 would we be even talking about it? Have I been living in radon land of 20 all my life and not known about it? Is 4-6% actually a good thing? The internet is all over the place on this poo poo. Bruce Hussein Daddy fucked around with this message at 13:56 on Sep 26, 2013 |
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Sep 26, 2013 13:53
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Bruce Hussein Daddy posted:We have the money to do it ourselves. It's a finished basement house, so the mitigation would be in the $1500-2000 range. Yes we are in a contract, closing on the current house tomorrow, we like this house. Sounds like you already know the answer then. Too bad the seller wont pay, may not hurt to throw an addendum their way stating they'll pay half of the remediation. Depends on what contingencies you have in place. But if you're good to cover the cost, love the house, and it's worth the offer price + $2k to you, go for it.
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Sep 26, 2013 13:56
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skipdogg posted:I don't actually live in Austin, I commute from Schertz to our office there a few days a week. When I leave though 183N is always complete gridlock. I have no idea how those folks up in Cedar Park/Leander deal with it every day. A lady who lived up that way told me her and her husband were paying 20 dollars a day in tolls almost so they didn't lose their mind in traffic. They found a closer rental home eventually. I commute to the domain (not quite as far as braker) on 183 from my house and there is basically no traffic and it is in your price range. I think things might be getting more expensive here though; ours was the only nice redone house on the block when we moved in but now there are like 8 houses (not exaggerating) in a 2 block radius for sale for more, but I don't think any of them have sold so they'll probably come down.
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Sep 26, 2013 14:51
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Bruce Hussein Daddy posted:We have the money to do it ourselves. It's a finished basement house, so the mitigation would be in the $1500-2000 range. Yes we are in a contract, closing on the current house tomorrow, we like this house. Well, it is the money. It's $1500. One or both of you will decide that the whole deal is worth hassling over $1500 or not. Offer to split the difference with them. Yeah, they'll have to disclose the radon to the next potential buyer, but that's not really sticking it to them if they don't plan on fixing it anyway. edit: our test came in at 10 - which is high, but we don't live in our basement (where it tested high) and it's $1500 to mitigate it. We're running a longer-term, more accurate test to see if it's really 10, or if it's 5. If it's 5... eh... I can roll the dice that I'll have a slightly higher risk of lung cancer.
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Sep 26, 2013 18:18
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Bruce Hussein Daddy posted:We have the money to do it ourselves. It's a finished basement house, so the mitigation would be in the $1500-2000 range. Yes we are in a contract, closing on the current house tomorrow, we like this house. Probably just want the epa's recommendations. If you or anyone who will stay there smokes, yes, do it for god's sake, but otherwise... http://www.epa.gov/radon/pubs/citguide.html#results 
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Sep 26, 2013 19:34
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Bruce Hussein Daddy posted:e: It's really not the money, it's the whole RADON CANCER GAS. I mean, if it had come in at 3.5 would we be even talking about it? Have I been living in radon land of 20 all my life and not known about it? Is 4-6% actually a good thing? The internet is all over the place on this poo poo. Do you smoke? If you smoke, then there's strong evidence that radon can represent a significant risk of lung cancer; don't mess around and install a mitigation system. Even if you don't smoke, there's some evidence to support that reducing it from 4pCi/L to 2pCi/L would be cost-effective at $2,000. The risk is small (but not insignificant), but it's also a pretty small expenditure.
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Sep 26, 2013 19:42
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